How much is real estate in Kyiv?

It is very expensive to rent a house in Kyiv, a significant share of the salary will be used to pay rent, so after the move, everyone who has such an opportunity is trying to buy an apartment. Many of them are interested in how much an apartment in Kyiv costs.

It is impossible to answer this question unequivocally, because the cost of living space is influenced by many factors that should be considered in detail. In this article, we will try to do a little research and find out the prices for real estate in the Ukrainian capital, as well as identify pricing trends.

Features of the real estate market in Kyiv

The real estate market in Kyiv is unique, because it presents any options for apartments. On the outskirts of the city, you can find budget housing, the cost of which will not be significantly higher than in the regions. As far as downtown is concerned, there are apartments for sale that are more expensive than luxury housing in Los Angeles. Everyone can find an apartment that suits them for the price and other parameters in this variety.

The average price for an apartment in Kyiv depends on many factors:

1. Total area and number of rooms. Of course, the more rooms and the larger the area of the apartment, the more expensive housing is. However, this is when it comes to the total cost. The price of 1 sq. metre in one-room apartments is often even higher.
2. Place. The location also significantly affects the cost of housing in Kyiv. If you imagine a map with a circle in the centre of the city, the prices in this circle will be the highest. And the further you move from the city centre, the lower the average price of apartments in Kyiv are. Only really wealthy people can buy real estate in the central part, because the prices for apartments on Khreshchatyk or Volodymyrska can amount to millions of dollars.
3. Infrastructure. A significant role in pricing belongs to the availability of shopping and entertainment centres, shops, parks, playgrounds and sports grounds, schools and kindergartens, clinics and other important infrastructure facilities nearby. For example, any family with a child in search of an apartment will always pay attention to the availability of kindergartens and schools, as well as places to hang out.
4. Road junction and public transport. It is important for car owners that it is possible to quickly and conveniently get to work or to the city centre from home. Also, the cost of housing depends on the availability of public transport nearby. First of all, we are talking about the metro. If the metro station is only a few minutes’ walk away, this automatically increases the cost of the apartment by 10-15%.
5. Floor. Apartments on the upper floors are mostly more expensive, as they offer a beautiful view of the city.
6. Condition of housing. This refers to the quality and freshness of the renovation. For example, apartments with ready-made renovation are more expensive, since the buyer does not have to spend money on renovations and wait to move to his new home. If it is necessary to change pipes, electrical wiring, windows and make major repairs apartment, such housing will be cheaper.

Cost per square metre of residential real estate in Kyiv

If you understand the question of how much it costs to buy an apartment in Kyiv, then, first of all, you have to focus on the cost of one square metre of living space. Over the past seven years, the price in hryvnia per square metre in new buildings has almost quadrupled. And since July 2021, when strict quarantine restrictions were lifted, it has grown to the level of UAH 30,000. This rise in price is due to strong inflation. In fact, due to the depreciation of the national currency, the cost of one square metre has grown in value very much. But if you look at the dynamics of prices in dollars, it turns out that, compared to 2014, prices for apartments in new buildings have decreased by an average of 10-20%.

A similar situation is observed in the secondary real estate market. In the national currency, the rise in price occurs strictly every year. In dollars, apartments have remained at about the same level as in the last 2-3 years. The exception is mid-2021, when, due to the lifting of quarantine restrictions, the secondary real estate market revived slightly, and prices rose slowly.

Prices for apartments in new buildings

Many are interested in how much it costs to buy an apartment in Kyiv in a new building. In new residential complexes, apart from standard factors, prices are influenced by the construction stage. The cheapest square metre of an apartment is at the excavation stage. Such a purchase has a number of advantages:

• Possibility to choose an apartment with a location and layout “for yourself”;
• You can get an instalment plan from the developer;
• There is a chance to buy a parking slot or several slots.

The disadvantages of buying a home in the early stages are possible risks that the developer will not put the apartment into operation on time or will not be able to complete construction at all. To minimize them, you have to buy housing only from trusted companies that have already put more than one major new building into operation. These companies, of course, include the  RIEL Real Estate Corporation, which has an impeccable reputation and offers excellent conditions for cooperation to buyers.

The cost of housing, taking into account the class of the apartment and the number of room

All apartments are divided into four classes. Let's analyse each of them, from the cheapest to the most expensive.

1. Economy class. Such apartments are characterized by standard layouts, standard building facades, not the best location, prefabricated panel construction technologies, and the use of the cheapest building materials. Therefore, such apartments often have a low level of sound and heat insulation. Economy-class houses do not have a closed area, and the density of construction is quite high. Economy class apartments are usually the cheapest.
2. Comfort class. This is an improved version of the above class of housing: such apartments are distinguished by an improved standard layout, modern construction technology and, as a result, a higher price per 1 sq. m.
3. Business class. Such housing is built mainly in prestigious areas. Often, houses are erected according to author's projects, so they differ in architecture. Mostly business class apartments provide free planning. Due to the use of expensive building materials and the best construction technologies, these apartments are warm and well soundproofed.
4. Premium class. High quality luxury apartments being built in the city centre or other prestigious areas. For such buildings, original architectural solutions are created. Layouts in the apartments are often not just free, but customized, that is, created for specific buyers. Premium-class housing always provides for a closed guarded area and high-speed elevators. The building also has a swimming pool, cinema and other amenities that residents and their guests can use. The cost of premium class apartments in Kyiv amounts to hundreds of thousands and even millions of dollars.

It is necessary to realize that the division into classes is quite conditional. For example, it is highly unlikely that an economy-class apartment is cold or poorly located. There are frequent exceptions, and apartment classes are sometimes simply used by developers as a marketing ploy. Therefore, when buying a home, you should not pay special attention to the class, first of all you need to look at the location, design, transport interchange, important infrastructure facilities nearby, etc.

A more significant factor in choosing an apartment that affects its cost is the number of rooms. Let's take a closer look at this aspect.

One-room apartment

If you wonder how much an apartment in Kyiv is. Most buyers are primarily interested in one-bedroom apartments as they are the most popular. Today, the average price of one-room apartments varies from $ 35,000 to 50,000.

The advantages of one-room apartments:

• Affordable price. One-room apartments are a budget housing option in the Ukrainian capital.
• Investment attractiveness. Buying an apartment and renting it out is one of the simplest and most profitable investments today.
• Large selection. On primary and secondary Kyiv real estate market, most of all apartments put up for sale are one-room ones.

Two-room apartments

Two-room apartments are in less demand, and this is one of the reasons why they are not by much more expensive than one-room apartments. The average price of two-room apartments in Kyiv is $ 55,000.

Multi-room apartments

Three-room and four-room apartments are most often bought in dormitory districts, because they are primarily interesting for large families. Prices for such residential property start at $ 70,000.